Quarterly ResultJul 1, 2026, 04:03 PM
Bassett Furniture Q2 EPS $0.24; Revenue down 0.7%; Gross Margin up
AI Summary
Bassett Furniture Industries reported its second-quarter 2026 results, with diluted earnings per share increasing to $0.24 from $0.22 in the prior year, despite a 0.7% decrease in consolidated revenues to $83.8 million. The company achieved a 90-basis point improvement in gross margin to 56.5% and generated $7.4 million in cash from operating activities. Management highlighted stronger retail performance, a 40% rise in e-commerce written sales, and ongoing strategic initiatives to improve operating efficiency and expand market reach amidst a soft housing market.
Key Highlights
- Q2 2026 diluted earnings per share increased to $0.24 from $0.22 in prior year.
- Consolidated revenues decreased 0.7% to $83.8 million compared to $84.3 million last year.
- Operating income was $2.2 million (2.7% of sales) vs $2.5 million (3.0% of sales) in prior year.
- Gross margin improved by 90 basis points to 56.5%, driven by wholesale business.
- Generated $7.4 million of cash from operating activities for the quarter.
- Retail sales increased 2.4% to $55.5 million; Wholesale sales decreased 2.0% to $53.1 million.
- Total written sales were up 9.5% and wholesale orders rose 5.2% for the quarter.
- E-commerce written sales rose 40%, with average order value increasing 24%.
Price Impact
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